Successfully buying property in Spain THE FOUR POINT PLAN TO SUCCESS Step 1 - SELECTION To make your best selection you will need to carrying out some research. Some questions for you to think about: - What climate to I want? - Nearest airport or ferry? - Do I want beaches, skiing, rolling countryside, mountain views? - Do I want to be in a town, village or rural? - Am I looking to live in Spain permanently, looking for a holiday home or somewhere to produce an income? - Land - Am I looking for lots of land or a small garden? - Am I looking for a "move in" property or a restoration project? - Am I looking for a personal use property or space for villas? (The average villa can make £5,500 per year.) Two methods of selecting your property: Method 1 - Specific Our database of properties is automatically updated instantly as soon as we are informed of changes, making our list of properties for sale much more accurate and up to date than any of the Spanish magazines listing properties (these all have at least a minimum of 8 week lead times due to printing and distribution). Method 2 - Type By the time you have carried out your research, you will have a general idea of the type of property that would be ideal for you. We maintain over 1500 properties on our constantly updated website and our agents offices have more than 50,000 more on their books, so there will always be a vast selection of the type of property perfect for you. Step 2 - VIEWING Two methods: Method 1 - Organised itinerary Once you have let us know the type of property you are seeking and the amount of time you will be in Spain, we will brief the agents in your chosen area(s). They will then confirm the availability of a number of suitable properties and we will book the amount of time necessary for you to view the selection. This can range from half a day to 2 full days, depending on the number of properties you wish to see. We can then arrange your whole itinerary program into the most efficient travel, with reasonable journeys and good "value for money" accommodation waiting for you each night. We would then ask you to confirm that you are free to accept the appointments and, finally, firmly confirm your appointments with the agents concerned. In order to organise the smoothest trip for you, please bear in mind that we need to know from the start if there are any days that you are not available for viewing properties due to other committments or "rest" days. Method 2 - Organising the trip yourself You can, of course organise your trip yourself. However, do bear in mind that we have years of expertise in organising many successful visits to Spain: we know the Agents and we know the travelling times. Few Spanish Agencies can handle "walk-in" appointments, so you would need to pre-book appointments. Trying to squeeze in 3 or 4 appointments a day, an hour late here, a missed appointment there might seem like the best way to cover ground - but mostly, that's exactly what you'll achieve - covering ground (Spain is a big country) skidding up and down the country exhausting yourself and you won't endear yourself to the Spanish agencies. Having numerous agencies tripping over each other, producing double bookings and cancellations, might seem like the best way of organising your trip but you really are reducing your chances of success and when you need to return to Spain for a second time, you may find you're not treated as seriously as you'd like. Visiting Properties 1 - Keep your itinerary, phone numbers, mobile phone and map with you. Then you shouldn't get lost. However, if you loose your way or get delayed or find your ideal Spanish home before you finish the itinerary, you'll have all the relevant directions and phone numbers with you so you'll be able to advise all the agents accordingly. 2 - Equip yourself for the task. Wear suitable clothes and take a pair of shoes. Things to take: - Torch - Tape measure - Compass - Camera plus sufficient film (digital or video camera - for instant results) - Camera chargers or spare batteries - Mobile phone and charger - Pen - Notebook - Refreshments This will enable you to really investigate the properties, crawl into those haylofts, explore the land, climb any hills to check the views, peer into those dark corners, measure rooms and areas, note where the sun rises and sets, photograph those unusual features and make sufficients notes to help aid your decision later. It is wise to take refreshments with you to make the most of your viewing time - shop opening hours vary from area to area. 3 - Prepare a list of general questions beforehand, pertinent to all the properties you will see. For example: - How old is the property? - How old is the roof? - Is there a septic tank? - Are services connected (water, electricity etc)? - Is there a good plumber, carpenter, electrician etc nearby? - How much are the local taxes? - How long will the sale process take (is it a straightforward single owner sale or a multiple owner inheritance sale)? - Where is the nearest village/town and how far away is it? 4 - Be honest with the agent. Tell them what you like and dislike about each property you view. That way, if you don't manage to find a property, the agent can fine tune your viewing list to you specific requirements. Step 3 - PURCHASING Do I need UK professionals? Well, it's a fairly straightforward process that most people, obviously using a measure of common sense, should handle easily. Equally, no matter who you pay or which UK professionsal you use, the legal documents still have to be passed by the Spanish Notaire and, under their supervision, property problems and litigations are lower in Spain than in England. All our agents are fully trained, have long experience of non Spanish clients, are ENGLISH SPEAKING and will guide you through the whole process, at NO EXTRA CHARGE. After all, if they didn't, you probably wouldn't recommend us to your friends. 1 - Making an Offer Just like people in the UK, some owners will accept an offer and others won't. Your agent should know whether the owner will accept and, if so, within what range - so use his knowledge. After all, he wants to find a suitable property for you as much as your do. If you can afford the time, it's generally a good idea to leave your last day free of appointments. This will allow you time to review the properties you've seen and if you've made your mind up, sort out the paperwork without being rushed into mistakes. 2 - Signing the Contract 1. It will be necessary for you to have a Tax Identification number to purchase a property; it is sufficient at the time of purchasing your property to have put in place the steps to acquire such a number. In Spain each person is assigned a tax identification number (NIE) which must be used on all communications addressed to the Tax authorities. In general the NIF of a Spanish national is their National Identification Number (DNI), in the case of foreign nationals the NIE is their Foreign Identification Number (NIE). These identification numbers are issued by the Directorate General of the Police, our agencies will able to assist you with obtaining your NIE to purchase your property. You now have to apply in person for NIE certificates - our professional staff will accompany you. This service, along with opening a bank account is free to our clients. 2. Once a price has been agreed between, purchaser and vendor, both parties should sign a contract; Contrato privado de compraventa, this is provided by the selling agent and sets down the details of the exact location of the property, the price agreed, name of the vendor or the vendor's representative and the name of the purchaser or the purchaser's reprentative and finally the date of completion, which can be as quick as 5 days to approximately 3 months. There are conditions attached to the contract which stipulate that should the prospective purchaser fail to complete, the deposit is lost and also should the vendor fail to complete the deposit is refunded to the purchaser. In Spain, oral contracts have the same validity as written contracts. 3. A deposit of 10%; of the purchase price is usually requested by the estate agent and this is held in a bonded clients account. 4. The legalities are dealt with by a notary; this is a public official who is assigned to deal with both the requirements of the purchaser and the vendor. The notary checks at the time of the completion that the property is not encumbered with debt, because in Spain debts are attached to property and in extreme cases it could be that outstanding mortgages are passed on to the purchaser. 5. It is necessary to have an independent translator at the notary; if your Spanish is limited, to ensure that you understand completely, all that is being explained. 6. The balance of the purchase price has to be paid on the day of signing at the notary; the purchaser and the vendor sign the Escritura de Compraventa. This sum should be paid in the form of a bank transfer from your Spanish bank account to the seller’s bank account or a certified cheque drawn on a Spanish bank, you cannot use an International draft drawn on a UK bank, and cash is not an option. 7. Taxes; these need to be paid within one month of signing at the notary, but in general the notary will ask for your bank details and the appropriate taxes (once they have been calculated) will be debited by the notary. After what can be a quite straightforward process, you will be the proud owner of a Spanish home. Step 4 - OWNING Once you've signed "on the dotted line", had your celebratory glass of champagne and met your new neighbours, the practical realities of ownership and settling into your new community soon begin to demand your focus. But, if you are one of our clients, you need worry no further. Our Property Office personnel not only conduct client viewing appointments, negotiate the sale, supervise the sales process and generally guide our clients to successful ownership, they will also assist our clients to establish themselves in Spain and integrate quickly and effectively. They will guide you through the bureaucratic maze of red tape that awaits the unwary and sort out those essentials that clients normally want assistance with, such as:- - translations - opening bank accounts - arranging telephone installation - arranging insurance - electricity connection - water connection - septic tank installation - finding builders and artisans etc. As they live and work in Spain it means that they are already familiar with the majority of the requirements you may have and the relevant contacts, people and systems necessary to smoothly get you set up with the various Spanish authorities and integrated into the Spanish way of life.